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Chinese World Bank Draws In America’s Closest Allies

Chinese World Bank Chinese World Bank

 

America appears more isolated as Australia, Denmark, the Netherlands and Russia plan to join The Asian Infrastructure Investment Bank (AIIB).

The Chinese development bank has now signed up many of America’s Western allies.

The U.K was one of the first to sign up.

The Telegraph reports:

The UK angered Washington when it became the first major western country to join the Chinese-led bank, but a string of nations have since put their name to the $50bn organisation.

On Sunday, Australian prime minister Tony Abbott said the country, a key US ally, is signing a memorandum of understanding to join the AIIB to “allow Australia to participate as a prospective founding member”.

Meanwhile, China’s ministry of finance said Denmark had written to “announce its intention to apply to be a founding member”.

It follows Russia and Netherlands saying on Saturday that they plan to join, while Brazil, South Korea, France, Germany and Italy have all expressed their interest.

 

Edmondo Burr

BA Economics/Statistics
CEO
Assistant Editor
About Edmondo Burr (2835 Articles)
BA Economics/Statistics CEO Assistant Editor